image sourced from original article at India's retail inflation rose to 3.48 per cent in April, marking a more than one-year high and increasing from 3.40 per cent in March. The rise was largely driven by higher food prices, with food inflation climbing to 4.20 per cent. Rural inflation stood at 3.74 per cent, outpacing the 3.16 per cent recorded in urban areas.
Among commodities, silver jewellery saw an exceptionally high inflation rate of 144.34 per cent, while gold, diamond and platinum jewellery prices also remained elevated. Tomato prices surged 35.28 per cent year-on-year, whereas potato and onion prices continued to decline. Personal care and miscellaneous goods recorded sharp price increases, while transport inflation remained nearly flat.
Retail inflation has now increased for the second straight month, moving closer to the Reserve Bank of India's medium-term target of 4 per cent. The central bank has projected inflation at 4.6 per cent for the next financial year, cautioning that global energy price pressures and potential El Nino-related weather disruptions could pose further risks.
